The first cabinet meeting presided over by Chief Minister Yogi Adityanath decided to float Kisan Rahat Bonds for raising ₹36,359 crore required for waiving loans of small and marginal farmers who form 92.5 percent of the total 2.30 lakh farmers in the state.

Briefing media persons after a 90-minute meeting of the cabinet, senior minister Siddharth Nath Singh and Srikant Sharma said ₹30,729 crore was required for waiving loans of small and marginal farmers.

Besides, there were about 7 lakh other farmers who had taken loans which turned into non-performing assets (NPAs).

In order to bring them back into the mainstream, their outstanding dues of ₹5,630 crore have also been written off.